William Blair acted as the lead financial advisor to Buildium, a portfolio company of Sumeru Equity Partners (SEP) and K1 Investment Management, LLC (K1), in connection with its sale to RealPage. The transaction was announced on November 6, 2019 and closed on December 18, 2019.
Transaction Highlights
- Highly strategic transaction: The acquisition is highly strategic for both parties and marks a critical step in Buildium's evolution. The transaction will result in value creation for the combined enterprise through an expanded global customer base and an enhanced property management software and payments platform.
- Premier Technology M&A advisor: William Blair has completed more than 180 technology M&A transactions since 2014, representing more than $75 billion in total transaction value. Buildium represents the 48th technology M&A transaction signed and/or closed in 2019.
- Differentiated sector expertise: Buildium and SEP were attracted to William Blair's extensive knowledge of the real estate software market, significant recent transaction experience, and insights into the priorities of strategic buyers.
- Trusted guidance with strategic acquirers: The transaction team was integrally involved throughout the process, using highly relevant and recent transaction experience with strategic acquirers to facilitate an efficient, accelerated process.
About the Companies
Buildium is a property management solution that helps real estate professionals win new business from property owners and community associations seeking services. Buildium services over 15,000 customers in 46 countries, totaling over one million residential units. In 2015, Buildium acquired All Property Management, a leading online marketing service for property managers to acquire new customers and increase revenue.
Sumeru Equity Partners is a technology-focused private equity firm that invests in middle market companies across software, technology-enabled services, and hardware. The firm employs a growth-oriented partnership model with technology companies and typically invests $25-200 million per transaction. The firm was founded in 2014 by an experienced team from Silver Lake Sumeru, a private equity fund started in 2007 within Silver Lake.
K1 is a leading investment firm focusing on high-growth enterprise software companies globally. K1 invests alongside strong management teams that continue to guide their organizations on a day-to-day basis. With over 75 professionals based in Manhattan Beach, California, K1 changes industry landscapes by executing organic and acquisition-based growth strategies.
RealPage provides a technology platform that enables real estate owners and managers to change how people experience and use rental space. Clients use the platform to gain transparency in asset performance, leverage data insights, and monetize space to create incremental yields. Founded in 1998 and based in Richardson, Texas, RealPage currently serves over 12,000 clients worldwide from offices in North America, Europe, and Asia.
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